MACHINERY & EQUIPMENT LOSS • Complete any necessary temporary repairs to protect the affected equipment • Secure a listing of equipment impacted by the loss, provide photos • Notify the Original Equipment Manufacturer or an Equipment Consultant to assist in evaluating the condition of damaged equipment • Prepare a list of damaged equipmentand separate between “destroyed” (to be replaced) and “damaged” (repairable) equipment, provide photos • Work with adjuster to obtain agreement regarding each piece of equipment status (destroyed or only damaged) • Identify any affected critical equipment to operations and lead time for replacing • Determine the salvage potential for equipment not repairable and agree with the adjuster on the protocol to obtaining salvage bids and funds • Identify leased equipment and be prepared to provide a copy of the lease to the adjuster • Estimate equipment loss based on replacement quotes from a reputable supplier • If equipment won’t be replaced, determine true useful life (not necessarily book useful life or accelerated depreciation basis) • Prepare timeline for replacement or repair • Determine how the loss of equipmentimpacts the business interruption loss INVENTORY LOSS • Identify all areas of inventory loss and segregate damaged from non-damaged inventory • Where possible, preserve any damaged items — do not destroy or discard until the insurer has reviewed and approved the disposal, provide photos of damaged inventory • Be prepared to document and demonstrate the type of physical damage that has occurred • Complete a post-loss physical inventory • Obtain copies of the previous two physical inventories (linen, China, glass, food, beverage) • Secure the perpetual inventory records since the last physical inventory • Secure the perpetual inventory as of the date of loss • Identify any opportunities for salvage andagree up front with the adjuster on how this will be handled
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